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Hyundai’s IPO in India generates moderate market response

Hyundai Motor India is targeting the largest IPO ever seen in India, but early reports suggest it isn’t an exciting prospect for investors. By Will Girling

On 14 October 2024, Hyundai officially began the planned sale of around 142 million equity shares—17.5% of its stake—in its Indian subsidiary, Hyundai Motor India, to institutional investors at Rs 1,865-1,960 (US$22-23) each. The following day, it opened up to retail investors as well. The automaker is targeting a US$3.3bn IPO—its first outside South Korea, and the largest in India to date—alongside a US$19bn valuation. The stock will commence trading on 22 October.

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